Accessibility, connectivity and innovation to lift Islamic finance

Through Islamic finance innovation, Malaysia can signal its openness to foreign direct investment and participation in its capital markets. — AFP

LAST month, Bank Negara Malaysia (BNM) announced the adoption of Malaysian Islamic overnight rate (MYOR-i) as the mandatory reference rate for Islamic finance products starting in July 2027.

This move is a significant structural reform that will boost transparency, consistency and syariah alignment, and advance Malaysia’s Islamic finance ecosystem.